Euronet adds two ATM partners to the PaySpot prepaid top-up program
LEAWOOD, KANSAS—July 8, 2003—Euronet Worldwide, Inc. (Nasdaq: EEFT), a leading electronic payments provider, today announced that ATM processor Innobeta and ATM manufacturer NexTran have joined the growing PaySpot program, Euronet’s U.S.-based prepaid wireless recharge services. Innobeta is a transaction processor for thousands of ATMs across the U.S. NexTran ATMs are installed in all major U.S markets, including New York, Los Angeles, Chicago, Atlanta and Washington, DC.
PaySpot is a new U.S.-based top-up service that enables consumers to purchase prepaid wireless airtime and long-distance calling plans from ATM and POS devices. Consumers can recharge prepaid accounts from all major wireless carriers as well as more than 20 other regional wireless carriers. Additionally, consumers can select from ten different prepaid long-distance calling plans for calls within the U.S., calls to Mexico and international calls.
“Our clients rely on our processing services to provide the latest in high value transactions, and PaySpot’s pay-as-you-go products offer great revenue opportunities,” said Eric Park, Innobeta chief financial officer. “The PaySpot program offers consumer convenience within the growing popularity of prepaid top-up transactions, which promotes more traffic for our ATM clients.”
PaySpot allows consumers to go to ATMs at participating locations such as convenience stores and other sites to top-up prepaid wireless accounts. Consumers simply follow the easy commands on the ATM screen, selecting the wireless carrier and the amount of airtime they want to purchase, and entering their wireless phone number. The program processes PIN based debit/credit card transactions at the ATM, and immediately credits the consumers’ prepaid accounts. PaySpot at the ATM does not require any cards or special inventory. Cash-based purchases using a POS terminal are also accepted at PaySpot locations.
“Our company focus is building value for NexTran’s customers,” said Tony Park, NexTran chief financial officer. “PaySpot allows us to provide added value at the ATM by offering more convenience options that attract consumers.”
In addition to Innobeta and NexTran, PaySpot services are supported by several ATM processors, including Concord EFS and Genpass, ATM manufacturers such as Triton and Tidel and more than 20 independent sales organizations, including Financial Technologies, Inc., ATM America, ATM USA, The Bailey Group and Welch Systems.
“The PaySpot top-up program focuses on the ever growing market for prepaid services and delivers these services in an easy to access and consumer friendly way,” said Ron Ferguson, Euronet Worldwide vice president of U.S. business development. “Both NexTran and Innobeta are excellent partners to help deliver that consumer transaction.”
According to the Yankee Group, approximately 12% of all wireless subscribers were prepaid subscribers at the end of 2001. The analyst group predicts that this percent will grow to exceed 30% by the end of 2006.
About Euronet Worldwide
Euronet Worldwide is an industry leader in providing secure electronic financial transaction solutions. The company offers outsourcing and consulting services, integrated EFT software, network gateways, and electronic top-up services to financial institutions, mobile operators and retailers. These solutions enable our clients' customers to access personal financial information and to perform secure payment transactions-any time, any place. Euronet operates the largest independent pan-European ATM network, and is a leading provider of electronic distribution service, or top-up services, for prepaid mobile airtime. The company has processing centers located in the U.S., Europe and Asia, and processes electronic top-up transactions at more than 50,000 points of sale across 13,000 retailers in Europe, Australia and the U.S. With corporate headquarters in Leawood, Kansas, USA, and European headquarters in Budapest and London, Euronet serves clients in more than 60 countries. Visit our web site at www.euronetworldwide.com.
Innobeta Systems provides transaction processing and ATM terminal driving services for the electronic transaction processing business. Innobeta delivers a dependable suite of real-time electronic payment services to financial institutions and independent sales organizations throughout the U.S. Innobeta specializes in ATM driving, ATM management, Internet-based reporting, data processing, and gateway services. Visit their web site at www.innobeta.com.
NexTran Industries is a full-service supplier of ATM and cash dispenser technology and solutions. The manufacturer provides end-to-end ATM solutions, including hardware, software, installation, training, ATM maintenance and monitoring, processing and customer service. Visit their web site at www.nextran.net.